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    Check in Activity 2 (Group Work)

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    Sela Flores
    The document discusses a loan taken out by Naomi of P150,000 from a local businessman on June 26, 2019 at an interest rate of 7.75% to be paid back on November 15, 2020. It provides calculations of the exact and approximate time periods of the loan and the ordinary and exact simple interest earned using both the exact and approximate time periods. It concludes that Naomi should choose simple interest as it results in the lowest interest payment.

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    Check in Activity 2 (Group Work)

    Uploaded by

    Sela Flores
    22 views4 pages
    The document discusses a loan taken out by Naomi of P150,000 from a local businessman on June 26, 2019 at an interest rate of 7.75% to be paid back on November 15, 2020. It provides calculations of the exact and approximate time periods of the loan and the ordinary and exact simple interest earned using both the exact and approximate time periods. It concludes that Naomi should choose simple interest as it results in the lowest interest payment.

    Original Description:

    Math in the modern world

    Original Title

    MMW_M4-Check-in-Activity-2_Group-Activity

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    The document discusses a loan taken out by Naomi of P150,000 from a local businessman on June 26, 2019 at an interest rate of 7.75% to be paid back on November 15, 2020. It provides calculations of the exact and approximate time periods of the loan and the ordinary and exact simple interest earned using both the exact and approximate time periods. It concludes that Naomi should choose simple interest as it results in the lowest interest payment.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views4 pages

    Check in Activity 2 (Group Work)

    Uploaded by

    Sela Flores
    The document discusses a loan taken out by Naomi of P150,000 from a local businessman on June 26, 2019 at an interest rate of 7.75% to be paid back on November 15, 2020. It provides calculations of the exact and approximate time periods of the loan and the ordinary and exact simple interest earned using both the exact and approximate time periods. It concludes that Naomi should choose simple interest as it results in the lowest interest payment.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    MODULE 4

    Check in Activity 2
    (Group Work)

    Members:

    Flores, Angela Joy


    Gustilo Carlito Curtis
    Lingan, Maria Renalyn
    Lolingco, Jade Angel
    Vergara, Ma. Frances
    On June 26, 2019, Naomi obtained a loan of P150,000 from a local businessman. The
    interest rate on the loan was 7.75% and it is to be paid on November 15, 2020.

    1. What is the exact time from June 26, 2019, to November 15, 2020?
    2. What is the approximate time from June 26, 2019, to November 15, 2020?
    3. What is the Ordinary simple interest using exact time?
    4. What is the Ordinary simple interest using approximate time?
    5. What is the Exact simple interest using exact time?
    6. What is the Exact simple interest using approximate time?
    7. If Naomi was given the option to choose the type of interest to use, which should she
    had chosen? Explain why in one sentence

    P = 150,000
    R = 7.75/100 = 0.0775

    1. What is the exact time from June 26, 2019, to November 15, 2020?

    2019 2020
    Jun- 4 Jan- 31
    Jul- 31 Feb- 29
    Aug- 31 Mar- 31
    Sep- 30 Apr- 30
    Oct- 31 May- 31
    Nov- 30 Jun- 30
    Dec- 31 Jul- 31
    Aug- 31
    =188 Sep- 30
    Oct- 31
    Nov- 15

    =320

    Computation: T = 188+320
    = 508 days
    2. What is the approximate time from June 26, 2019, to November 15, 2020?

    2019
    Jun- 4
    July to December- 30×6= 180
    = 184

    2020
    January to October- 30×10= 300
    Nov- 15
    = 315

    Computation:
    184+315= 499 days

    3. What is the Ordinary simple interest using exact time?

    𝑂𝑆𝐼(𝑒) = (150, 000)(0. 0775)(508∕360)


    = 16, 404. 17

    4. What is the Ordinary simple interest using approximate time?

    𝑂𝑆𝐼(𝑎) = (150, 000)(0. 0775)(499∕360)


    = 16, 113. 54

    5. What is the Exact simple interest using exact time?

    𝐸𝑆𝐼(𝑒) = (150, 000)(0. 0775)(508∕365)


    = 16, 179. 45
    6. What is the Exact simple interest using approximate time?

    7. If Naomi was given the option to choose the type of interest to use, which should
    she had chosen? Explain why in one sentence.

    I think Naomi should choose the simple interest because the interest that you need to
    pay is much lower than other kinds of interest.

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